Answer:
70.54%
Explanation:
From the earlier calculations:
• The future value of her savings = $853,832.69
,
• Devon's contribution = $251,520
First, we determine the interest earned.
[tex]\begin{gathered} \text{Interest}=\text{Future Value-Contribution} \\ =853,832.69-251,520 \\ =\$602,312.69 \end{gathered}[/tex]
Therefore, the percentage of the final balance that was interest is:
[tex]\begin{gathered} \frac{\text{Interest}}{Final\text{ Balance}}\times100 \\ =\frac{602312.69}{853832.69}\times100 \\ =70.54\% \end{gathered}[/tex]
The percentage is 70.54%.
